Light Rain and Breezy
43°FLight Rain and BreezyFull Forecast

BBB offers tips for using your 2013 tax refund

CHICAGO — Deciding what to do if you receive a tax refund is an important decision in this economy. The Better Business Bureau serving Chicago and Northern Illinois (BBB) advises consumers to consider a few options that can provide some long-term financial benefits.

• Pay down your debt. Use your refund for some much needed debt relief such as paying off a credit card, a car loan or a home equity loan.

• Consider savings options. It may be beneficial to put the money into a savings account, CD or retirement fund and allow it to grow.

• Consider investing in your home. Using the money to spruce up your house may add to its property value.

• Donate to Charity. You may want to donate some of your tax refund to a charitable organization.

• If debt is a problem, consider a credit counselor. Certified consumer credit counseling agencies can assist people who are facing financial challenges and are looking for debt relief.

Comments

Get breaking news and weather sent to your phone. Sign up for bcralerts!

Comments